A much anticipated report on homelessness in Lexington is due out Tuesday. The report, which was composed by members of a Mayor’s Commission, will include strategies meant to reduce the number of homeless people. Commission Co-Chair Steve Kay says they hope to find funding, increase the number of affordable residences, and improve services available to people who could lose their homes.
“A dedicated funding stream. An office to coordinate all the proposals that are included in both the Commission report and by incorporation the proposals that are now in the affordable housing trust fund recommendations and a focus on more affordable housing, building more units,” said Kay.
One proposal funds low interest loans with a city tax on insurance premiums. By investing government funds in loans for low-cost housing, Commission Co-Chair Steve Kay says they hope to spawn more private development. “In part, it’s to leverage projects that are already in the pipeline that can be created where people are close to having enough financing for building these units but they need some kind of subsidy in order to actually make it affordable. So this would be last gap financing,” added Kay. Appointed six months ago by Lexington’s mayor, the Commission gathered information during meetings with homeless Kentuckians and community leaders.